Solution-What is the cost of goods sold if Weston Corp uses

What is the cost of goods sold if Weston Corp uses LIFO

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Reference no: EM132788531

Problem - Weston Western Wear (WWW) Corp reports the following:

Beg inventory	1,000 units	$200 each	$200,000
Purchases	3,000 units	$250 each	$750,000
Available for sale	4,000 units		$950,000

Assume WWW sells 2,400 units during the year.

Required -

1. What Is the Inventory balance at the end of the year if Weston Corp uses FIFO?

2. What is the cost of goods sold if Weston Corp uses FIFO?

3. What is the Inventory balance at the end of the year if Weston Corp uses LIFO?

4. What is the cost of goods sold if Weston Corp uses LIFO?

Reference no: EM132788531

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What is the cost of goods sold if Weston Corp uses LIFO

Reference no: EM132788531

Reference no: EM132788531

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